An attempt is made to judge characteristics affecting a school district's fiscal performance by conducting a factor analysis on 74 variables having factor loadings of .30 or greater. The 16 factors studied (containing the 74 variables) include many facets of school board fiscal policy and information on the kinds of people who make the policies. Two basic conclusions noted are that the board member variable and, to a lesser extent, the equalization of aid variable are influential in determining fiscal responsibility. (HW)